Nowadays, video content gains momentum and it is considered to be the most convenient and popular kind of content among users. The greatest part of information on the internet (about 67%) users get from the video files. And this multi-billion-dollar industry is expanding rapidly.
But the current structure of video content distribution does not satisfy users because of slow downloading speed, low content resolution and high content delivery costs. As a result, it limits the revenue of the content makers. Current developments in technologies provide users with distribution of products with higher quality and resolution, so the situation with distribution can get even worse. Theta comes to provide revolutionary solutions for distributing of the media content within the network using unique decentralized blockchain.
Theta is working on developing of online video industry. Today the delivery of video is not really cheap. Theta Network is built as a decentralized system for streaming distribution with minimum expenses.
The team of streaming video platform Theta consists of professionals with more than 30 years of total relevant working experience. Moreover, Theta has such influential and successful professionals in their team as co-founder of YouTube platform Steve Chen and Twitch co-founder Justin Kan.
Theta project is established specially to decentralize the streaming services and it works with an open source. Theta is open for all the developers and partners.
Theta Network cryptocurrency THETA is supported and integrated in a number of trading platforms of the crypto market like Huobi, for example. The project is also developing decentralized streaming network where tokens will provide mechanisms of rewarding and stimulating in order to make all the interested parties use DSN. So this is a unique complex solution for real-time video streaming which provides the technical stimulus for all the users involved in the network. The more customers join the platform, the more people can use THETA tokens. There are some more features that make Theta the best platform for video streaming: complex decentralized video distribution; supporting DApps for entertainment, films, studying, conferences, broadcasting and so on; Theta blockchain is a protocol compatible to ERC-20 tokens; existing platform with 1M MAU.
Digital content creators face two global problems: distribution of advertising revenue and inefficient methods of video delivery. Inefficiency of centralized content delivery networks leads to pauses, delays and low quality video broadcasting, that reduces video quality. Video industry structure needs more video-exchanging platforms because of rapid industry growth that can be seen last years. There are also some problems regarding advertising incomes distribution. Today a lot of content creators blame YouTube for non-transparent income distribution model and critiсize its monetization mechanism.
Theta comes with definite solutions. Theta works on Ethereum blockchain and all the network data is distributed by decentralized P2P technology. It minimizes the delays and pauses and improves the delivery of video. The first DApp developed on Theta blockchain will be SLIVER.tv with a great numbers of viewers expected. The basic principle of Theta Network is providing possibility to cache and deliver the streams to other users with the help of unused bandwidth. Viewers around the world will be able to provide caching nodes using their PCs. They will help to form the global video content delivery infrastructure this way.
To stimulate the audience to share their memory resources and capacity, the platform uses Theta protocol. Caching nodes will receive THETA tokens for delivering the video streams to other users. Using Theta platform, advertisers will be able to target the audience at a lower price while the audience will earn tokens for their attention and interaction with video streams. Such streaming solutions are extremely efficient in the regions with unstable or unreliable
Internet connection. Some individuals in these regions can get passive income using their unexploited capacity.
Theta Network is based on 3 main concepts: Global Reputation, Reputation Dependent Mining and “Proof-of-Interaction”. Proof-of-Interaction is a protocol that proves the legitimacy of using the content by viewers and transparency for advertisers. Global Reputation is a consensus mechanism that works with global ratings of reputation. And Reputation Dependent Mining defines that rewards for caching nodes will not be the same and will depend on the reputation.
So Theta Network is an innovative project with the blockchain basis and supported by such significant investors as Samsung, Sony, DHVC, The Venture Reality Fund, Sparkland and so on. This project has huge potential and DSN (Decentralized Streaming Network) technology can become revolutionary and even replace Content Delivery Network.